In an integrated global market, Indian Stock Market is not an isolated one. And hence while forecasting about Indian equity market one has to look at the global market trends and news. Though yesterday, Indian markets ended lowered but it showed its strength as the fall was only marginal, indicating strong hopes on Indian economy.
Concern over a failed talk to avert the U.S. "fiscal cliff" of tax hikes and spending cuts is looming large on the global stock market. However, initiatives by Washington Republican House Speaker John Boehner on late Thursday raised strong hopes that some kind of negotiations will definitely be reached into. Moreover a set of fresh data’s regarding US economy indicates towards the fact the US economy is getting back on its feet. Wall Street ended in positive territory on Thursday, lifted by fresh data from Commerce Department which revealed that the economy grew 3.1 percent in the third quarter, up from the estimates of 2.7 percent and 2.0 percent previously stated. The figure reflects upward revisions to consumer spending, exports and government outlays, and a downward revision to imports. Also Thursday the National Association of Realtors said existing home sales rose 5.9 percent month-on-month in Nov' to their highest level in three years.
Dow Jones Industrial Average (DJIA) rose by 59.75 points (0.45%). The Nasdaq Composite (IXIC) was up by 6.02 points (0.20%). S&P 500 rose by 7.88 points (0.55%). Trends in European markets were mixed, FTSE 100 Index was down by 0.05 %, DAX was up by 0.05 % and CAC 40 was up by 0.06 %. Asian markets have started the day on a cautious note. The Hang Seng Index is down by 0.53 %. Shanghai Composite Index is up by 0.43 % while Nikkei is down by 0.12 %.
Thus globally all the markets are in a mood of caution and is trading range bound. Indian markets will also trade in a narrow range. There will be not much volatility in the market. Don’t expect the market to go on buying frenzy and Sensex going up by more than 60 points. Also, the market will not witness any major sell-off and the Sensex will not fall much as well.
So, on an intra-day basis, if the market goes down by 50 to 70 points, go for a buy and if the market goes up by 50 to 70 points, go for selling. This will definitely help you to make smart gain.
Concern over a failed talk to avert the U.S. "fiscal cliff" of tax hikes and spending cuts is looming large on the global stock market. However, initiatives by Washington Republican House Speaker John Boehner on late Thursday raised strong hopes that some kind of negotiations will definitely be reached into. Moreover a set of fresh data’s regarding US economy indicates towards the fact the US economy is getting back on its feet. Wall Street ended in positive territory on Thursday, lifted by fresh data from Commerce Department which revealed that the economy grew 3.1 percent in the third quarter, up from the estimates of 2.7 percent and 2.0 percent previously stated. The figure reflects upward revisions to consumer spending, exports and government outlays, and a downward revision to imports. Also Thursday the National Association of Realtors said existing home sales rose 5.9 percent month-on-month in Nov' to their highest level in three years.
Dow Jones Industrial Average (DJIA) rose by 59.75 points (0.45%). The Nasdaq Composite (IXIC) was up by 6.02 points (0.20%). S&P 500 rose by 7.88 points (0.55%). Trends in European markets were mixed, FTSE 100 Index was down by 0.05 %, DAX was up by 0.05 % and CAC 40 was up by 0.06 %. Asian markets have started the day on a cautious note. The Hang Seng Index is down by 0.53 %. Shanghai Composite Index is up by 0.43 % while Nikkei is down by 0.12 %.
Thus globally all the markets are in a mood of caution and is trading range bound. Indian markets will also trade in a narrow range. There will be not much volatility in the market. Don’t expect the market to go on buying frenzy and Sensex going up by more than 60 points. Also, the market will not witness any major sell-off and the Sensex will not fall much as well.
So, on an intra-day basis, if the market goes down by 50 to 70 points, go for a buy and if the market goes up by 50 to 70 points, go for selling. This will definitely help you to make smart gain.
you did amazing forecast about Nifty.
ReplyDeleteThis is true that stock market is known for its volatile nature & If markets make low so investors should be or should become capable enough to grab those opportunities to enter or invest in the fundamental stocks for long term horizon.
Daily Nifty Important Levels